The Ivy Fund group, which is part of Overland Park-based Waddell & Reed Financial Inc., has started two new mutual funds, each of which taps Apollo Credit Management as the adviser.
Both the Ivy Apollo Strategic Income Fund and Ivy Apollo Multi-Asset Income Fund will divide investments into “sleeves,” or strategies, that target different markets with different managers.
The multi-asset fund, for example, expects to invest 20 percent in a total return strategy, 30 percent in high income investments, 40 percent in global equity income and 10 percent in a global real estate strategy.
Mark Davis, email@example.com
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